The Malta Independent 18 September 2019, Wednesday

De La Rue sells International Identity Solutions Business

Wednesday, 12 June 2019, 14:26 Last update: about 4 months ago

De La Rue plc, the world’s premier currency and authentication provider, said today that it has agreed the sale of its International Identity Solutions business (“International ID”) to HID Corporation Limited (“HID Global”), an ASSA ABLOY Group company.

Under the terms of the agreement, HID Global will acquire De La Rue’s international identity solutions contracts, associated software, and passport assembly facilities in Malta. This transaction will allow De La Rue to refocus on identity-related security features and components where the market opportunities are more accessible.

Malta is a Centre of Excellence for De La Rue, where it has had a 40-year partnership and contributed significantly to the local economy. In recent years, De La Rue has completed a €27m investment programme to enhance its facility on the island.

As part of this deal, De La Rue will transfer its passport assembly capabilities and people based in Malta to HID Global; the people will continue to be based on the site. De La Rue will retain its existing polycarbonate and ID printing services to support both HID Global and other international customers as it focuses on growing the security features and components side of its identity business.   

Ed Chetcuti, De La Rue’s Global Manufacturing Director, said: ‘Our investment in capabilities here in Malta has laid solid foundations for the long term, and we look forward to working with HID Global to transfer our passport assembly capability and people to them.  De La Rue will continue to focus on its existing currency and product authentication capabilities, alongside our ID print and polycarbonate services from our factory here in Malta.’ 

Commenting on the announcement, the CEO of Malta Enterprise Mario Galea said “Malta Enterprise welcomes the investment of HID Global and Assa Abloy and is confident that Malta’s competitive advantages in industry could provide this company an opportunity for further growth.   HID Global will retain the present workforce of De La Rue engaged in Identity Solutions while the rest of the operation of De La Rue in Malta remains intact.

Jessica Westerouen van Meeteren, VP & Managing Director, Citizen ID business with HID Global said: ‘HID Global is fully committed to building strong relationships with De La Rue and Malta Enterprise. We are confident that this partnership will be a strong base for HID Global’s future in the country.’

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